Business, international

Japan backs Chino for Asian Development Bank presidency

Article Abstract:

Asian Development Bank (ADB) may have Tadao Chino as the company's new president to succeed Mitsuo Sato since the Japanese Ministry of Finance is supporting Chino's appointment to the position. The possible appointment of Chino to the post is also significant for the finance ministry due to the current Asian economic crisis and the ministry's vital part in revitalizing the economy. A spokesman for the Ministry of Finance of Tokyo, Japan, further reiterated that ADB's role as a regional development bank will be more political and influential during the current economic situations.

Comment:

Tadao Chino may become the bank's new president since the Japanese Ministry of Finance is supporting his appointment to the post

Fast-Growth Sectors Help Spur Redrawing of Trade Ties

Article Abstract:

China's TCL Holdings Corp., a consumer-electronics maker, held a meeting with Japan's Sumitomo Corp. about plans for an alliance to tap into India's market. India now has at least 200 million middle-class consumers, but its consumer-electronics industry is still relatively underdeveloped.